Noah (NYSE:NOAH) Stock Rating Lowered by Wall Street Zen

Noah (NYSE:NOAH) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research analysts have also issued reports on NOAH. Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a report on Monday, December 29th. UBS Group dropped their price objective on shares of Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Finally, Zacks Research cut shares of Noah from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.75.

Noah Stock Performance

Shares of Noah stock opened at $11.87 on Friday. The company has a market capitalization of $796.08 million, a P/E ratio of 9.20 and a beta of 0.72. Noah has a 1 year low of $7.67 and a 1 year high of $12.84. The company’s fifty day moving average is $10.62 and its two-hundred day moving average is $11.34.

Noah (NYSE:NOAH) last announced its earnings results on Tuesday, November 25th. The asset manager reported $0.46 earnings per share for the quarter. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $92.22 million. Noah had a net margin of 25.99% and a return on equity of 7.23%. As a group, equities analysts expect that Noah will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Noah

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC grew its stake in shares of Noah by 124.7% during the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager’s stock worth $69,000 after purchasing an additional 3,207 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Noah during the third quarter worth about $84,000. Quadrant Capital Group LLC purchased a new stake in Noah during the third quarter worth about $85,000. New York State Common Retirement Fund acquired a new position in Noah during the third quarter worth about $105,000. Finally, Centiva Capital LP purchased a new position in Noah in the third quarter valued at about $118,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.